Audi Delves Into Blockchain-based System for Distribution Processing

https://www.audi.com/

Audi AG, the German automobile manufacturer, is trialing a Blockchain-based system for processing both physical and financial distribution, in a bid to enhance its global supply chain’s security and transparency.   

After completion of a Blockchain trial anchored on IBM’s Hyperledger Fabric, in 2017, Audi AG has released a Proof-of-Concept (PoC) of a Blockchain-based system. After garnering positive feedback on its PoC phase, the management of Audi AG has decided to move forward with the project.   

Audi’s research team is made up of members representing various organizational departments including logistics, IT, production, and finance, all of which are currently collaborating on the representation and documentation of international logistics processes. 

Additionally, the research team is also delving into several Blockchain-based use cases in an effort to enhance data transfer security, efficiency of supply chains, as well as local energy grids management for the administration of virtual entities.   

According to an interview held by Die Produktion, Audi AD’s Head of Group Treasury, Alexander Dietmeier stated that industrial companies’ various operating principles can be potentially revolutionized through Blockchain technology, presenting new possibilities. From Dietmeier’s vantage point, in the near future, Audi may soon introduce a payment method via digital currency.    

Audi’s announcement follows previous reports indicating the rising number of German automobile companies gearing towards Blockchain-based solutions, including Mercedes, Porsche, and BMW.  

As has been recently announced, Daimler AG subsidiary Mercedes Benz has started releasing its company-owned virtual currency, MobiCoin, as a reward to environmentally cautious drivers. Meanwhile, Porsche, in partnership with the Berlin-based startup XIAN, is also considering developing a Blockchain app to be integrated into its automobiles.   

As for BMW, the company has reportedly been collaborating with a Blockchain startup to build a system for cobalt mapping to be used in its automobiles.